Green Growth

In: Business and Management

Submitted By rohit56
Words 1416
Pages 6
"Green Growth": A Necessity

Green growth is a new buzzword among the policymakers around the world. For many policymakers it's a new magical word that can play a very significant role in the development of a country. Green growth is viewed as a key to sustainable growth. It has been recognized that there is an urgent need of transition towards green growth to achieve sustainable development and prosperity. As per Asian Development Bank "... green growth is an imperative not a luxury, for developing Asia". It is still not clear whether 'green growth' is a new transitional shift or just another gimmick to cover up inconsistencies between economic and environmental objectives of governments.
There is no universally accepted definition of green growth. But normally it is being treated as a synonym to sustainable development. "Green growth is fostering economic growth and development, while ensuring that natural assets continue to provide resources and environmental services on which our well-being relies"-OCED. So green growth basically emphasizes on the efficient use of natural resources that minimizes pollution and environmental impacts at the same time it also plays role of environmental management and natural capital in preventing physical disasters. Main focus of green growth is low carbon growth that promotes growth with the help of creation of new environment friendly products.
Green growth is matter of both economic policy and sustainable development. Politicians normally think that today's voters are more concerned with basic problems like inflation, unemployment and corruption etc. but don't attach more weight to expected growth for unborn generations. But green growth is now generating a diversity of political positions, from enthusiastic to cautious. For example, China had already become the largest producer of clean technology in financial terms,…...

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